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I’m currently looking at houses in Melville / Dix Hills and trying to gauge what to expect in terms of certain homeowner expenses for budgeting. For context, assume the houses are on ~1 acre of property and 4K-5K sqft– some newer than others. We are a family of four and coming from renting.
Below are the primary expenses I’m trying to assess and what I’m budgeting based on research I’ve done, if anyone can sense check / provide feedback. Recognize some of these are unique to our habits and preferences, but looking to make sure these are reasonable as a guideline:
- Homeowners Insurance: $180 per month (assumes pool)
- Electric: $350 per month (reflects average - higher in summer, lower in winter)
- Heating - Gas or Oil: $300 per month for gas, $400 per month for oil (reflects average - higher in winter, lower in summer)
- Landscaping / Snow Removal: $250 per month (reflects average – includes fall/spring cleanups and weekly maintenance ~6 months per year)
- Pest / Termite: $83 per month ($1,000 annual)
- Cable and Internet: $225 per month
Looks like average numbers i pay. I would add Water bill every quarter. (Not nitpicking you just adding to your list ) the pest control I spend maybe 30 dollars a year.
Biggest thing is maintenance. Things break. Pipes clog. Your the owner so it’s your issue coming from a previous renter. Especially an older house.
Are you maintaining the pool yourself ? That’s 40 a week minimum. Electric and central air on a 4K square foot house would be up there if you have heater and pump running.
I’m currently looking at houses in Melville / Dix Hills and trying to gauge what to expect in terms of certain homeowner expenses for budgeting. For context, assume the houses are on ~1 acre of property and 4K-5K sqft– some newer than others. We are a family of four and coming from renting.
Below are the primary expenses I’m trying to assess and what I’m budgeting based on research I’ve done, if anyone can sense check / provide feedback. Recognize some of these are unique to our habits and preferences, but looking to make sure these are reasonable as a guideline:
- Homeowners Insurance: $180 per month (assumes pool)
- Electric: $350 per month (reflects average - higher in summer, lower in winter)
- Heating - Gas or Oil: $300 per month for gas, $400 per month for oil (reflects average - higher in winter, lower in summer)
- Landscaping / Snow Removal: $250 per month (reflects average – includes fall/spring cleanups and weekly maintenance ~6 months per year)
- Pest / Termite: $83 per month ($1,000 annual)
- Cable and Internet: $225 per month
Minus the pest/termite expense, add it to your homeowners insurance and your right on track.
I’m currently looking at houses in Melville / Dix Hills and trying to gauge what to expect in terms of certain homeowner expenses for budgeting. For context, assume the houses are on ~1 acre of property and 4K-5K sqft– some newer than others. We are a family of four and coming from renting.
Below are the primary expenses I’m trying to assess and what I’m budgeting based on research I’ve done, if anyone can sense check / provide feedback. Recognize some of these are unique to our habits and preferences, but looking to make sure these are reasonable as a guideline:
- Homeowners Insurance: $180 per month (assumes pool)
- Electric: $350 per month (reflects average - higher in summer, lower in winter)
- Heating - Gas or Oil: $300 per month for gas, $400 per month for oil (reflects average - higher in winter, lower in summer)
- Landscaping / Snow Removal: $250 per month (reflects average – includes fall/spring cleanups and weekly maintenance ~6 months per year)
- Pest / Termite: $83 per month ($1,000 annual)
- Cable and Internet: $225 per month
I live in the district, My house is 3100 sq ft and i'm only on a 1/4 acre.
Insurance - $2100
Elec - $65 w/o AC, $125 w/ AC - 2 - 20 seer units
Gas $120 w/ heat (69 degree avg) 40 w/o - Above code insulation, tankless hot water, 2 95% condensing furnaces
I mow my own lawn so I can be away from the family for 45 min a week 6 months a year!!!
I don't have pests but if I did I'm killing those bastards on my own
You are prob spot on w/ cable if you get a couple boxes and premiums.
One of my relatives 4k sq ft home spends about $500 a month on oil. This is a 1992 built stucco home w/ original boiler.
Thanks for the feedback, all! Guess I'm a little aggressive on the homeowner's insurance and conservative on pest / termite.
I had budgeting for some of those other expenses as well:
Water - $30 per month
Repairs / Maintenance - $100 a month (average - maybe this is a bit optimistic)
Pool - $425 to open, $425 to close each year with $30 per week maintenance. See someone mentioned $40 above.
A/C Maintenance / Servicing: $21 per month ($250 annual)
Thanks for the feedback, all! Guess I'm a little aggressive on the homeowner's insurance and conservative on pest / termite.
I had budgeting for some of those other expenses as well:
Water - $30 per month
Repairs / Maintenance - $100 a month (average - maybe this is a bit optimistic)
Pool - $425 to open, $425 to close each year with $30 per week maintenance. See someone mentioned $40 above.
A/C Maintenance / Servicing: $21 per month ($250 annual)
A/C is probably ok if it/they are newer and not needing repairs. If 10+ years old I would start to budget for a replacement.
Some will disagree. I have lived in 4 houses old and new. Get the newest house possible. My house is 100% spray foamed. I pay less in gas and electric than friends that have homes 1/2 the size and they have new hvac. Yes many newer houses are frame not brick. They are also highly efficient. Besides the energy savings upfront. The units run less due to homes being efficient and will last substantially longer. Based on your potential sq footage and location to buy most homes should be up to par.
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